Lace AI, a fast-rising startup founded by ex-Meta and VMware engineers, has secured $14 million in fresh seed funding to scale its AI-powered revenue intelligence platform. With headquarters in Mountain View and a growing R&D hub in Sofia, Lace AI is blending deeptech talent with Silicon Valley speed — and rapidly transforming how home service companies convert customer calls into sales.
The new funding round, led by Bek Ventures, includes Horizon VC, LAUNCHub Ventures, Snowflake co-founder Marcin Zukowski, Vivino’s Heini Zachariassen, and Payhawk’s Hristo Borisov. This brings the company’s total funding to $19 million, following an earlier unannounced $5 million pre-seed led by Canvas Ventures in 2022.
With plans to triple its team and accelerate R&D in Sofia, Lace AI is emerging as Bulgaria’s fastest-growing startup—and a breakout contender in the global AI landscape.
From Groceries to Global Growth: The Founding Story
Co-founder Boris Valkov once worked on PyTorch at Meta, one of the most widely used machine learning libraries worldwide. Partnering with Stan Stoyanov, a seasoned VMware engineer, the duo launched Lace AI in 2022 to solve a problem Boris had experienced firsthand. Growing up helping at his family’s grocery store, he witnessed the power of voice in building trust and sealing sales—lessons that eventually shaped the foundation of Lace AI.
Today, that personal insight has evolved into a platform capable of parsing thousands of service calls in real time, helping companies recover lost revenue and close more sales.
Every Call Counts: Lace AI’s Secret Weapon
What makes Lace AI stand out is its promise to analyze 100% of customer service calls, not just a sample. Most platforms only review a fraction, but Lace AI’s advanced AI models scan every call to catch missed opportunities, customer objections, and agent errors. That level of visibility is game-changing, especially for the $650 billion home services market where phone calls still drive 80% of revenue.
Whether it’s plumbing, HVAC, or garage door services, these businesses often lack the tech tools to optimize their inbound calls. Lace AI is stepping in to change that with a plug-and-play SaaS model that translates voice data into real business outcomes—no technical expertise required.
From Sofia to Silicon Valley: Building a Global Bridge
The company’s decision to split operations between Mountain View and Sofia is proving to be a strategic masterstroke. In Bulgaria, Lace AI has built one of the country’s largest AI R&D hubs, tapping into a pool of elite engineers while keeping operational costs lean. This hybrid approach lets them access U.S. customers and capital while fostering cutting-edge research from Eastern Europe.
It’s not just about cost savings. Lace AI is actively helping Bulgaria stake its claim as a deeptech force, drawing attention to the region’s growing pool of machine learning talent.
Record-Breaking Growth and Customer Adoption
Lace AI’s impact is already measurable. In 2024, its annual recurring revenue skyrocketed by 1,000%. Companies using the platform are reporting up to 35% more sales without increasing ad spend or headcount. One business saw a 23% rise in qualified bookings and slashed its QA costs by over 80% within weeks.
The platform now serves over 100 customers, including major names like A1 Garage Door Service and Eco Plumbers. Their pricing model is simple: a monthly subscription per call center agent, making it easy to scale across small teams and national franchises alike.
Looking ahead, Lace AI is rolling out new features like real-time coaching for agents, advanced CRM integrations, and smarter analytics—all led by its Sofia-based research team.
What’s Next for Lace AI?
As it continues to expand, Lace AI is becoming a blueprint for Bulgaria’s deeptech future. Its journey—rooted in local talent, global ambition, and a commitment to underserved industries—is inspiring a new generation of startups across the region.
With strong investor backing, massive momentum, and a crystal-clear mission to unlock hidden revenue from every customer call, Lace AI is well on its way to becoming a household name in enterprise AI.
